Texas is the state most likely to keep the economic engine running. The Financial Times recently named Texas the No. 1 state economy in the nation in a study measuring the impact of the current financial downturn on the 50 U.S. states. Thanks to high rankings in four separate economic indicators: employment growth rate, state product growth rate (GSP), personal income growth rate and home foreclosure rate, Texas is the state best-suited to weather the current financial turmoil. While most state and local governments are faltering because property taxes and sales revenues have dropped significantly, the situation in Texas is more robust. According to the Comptroller of Public Accounts, Texas sales tax receipts for December 2008 were up 2 percent from the same month last year. As for property values, while Houston has not been completely immune to the decline, homes have not experienced the overly-high appreciation rate of other markets, and with outstanding job and population growth, Houston is not ex ...

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